Ireland's Central Bank has refused to say if it plans to move almost E200 million worth of gold bars from the vaults of the Bank of England as a result of Brexit, insisting that any such move would be "commercially sensitive."

The gold reserves have been held by its UK counterpart for a number of years, and the Central Bank has traditionally been coy on the precise details of the reserves, and the terms of the arrangement it has with the Bank of England.

It refused to be drawn yesterday on whether the reserves would be removed from the Bank of England either before or after the Brexit deadline of next March.

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